Drug discovery firm SPARC Q1 loss widens to Rs 18 crore

NEW DELHI: Drug discovery firm Sun Pharma Advanced Research Company ( SPARC) today said it has posted a net loss of Rs 18.32 crore for the first quarter ended June 30, 2012, over the same period of previous fiscal.

The company had posted a net loss of Rs 11.26 crore for the same period of 2011-12 fiscal, SPARC said in a statement.

Total income of the company declined to Rs 6.38 crore for the June quarter, as against Rs 10.08 crore during the same period of previous financial year.

SPARC was demerged from Sun Pharma as a pharma research and drug discovery company in 2007.

Shares of SPARC today closed at Rs 74.55 on the BSE, up 1.43 per cent from their previous close.